Spending Bitcoin & Buying Something with Bitcoin - Forra

Sharering (SHR) I believe this one is going to surprise so many. Already generating revenue and doing buybacks every week. Already over 10 000 registered users. Mainnet + app + masternodes and staking before EOY.

I got this stuff from Steve Aitchison, he wrote this review and posted it on Uptrennd. Figured I should put it on here as well since I truly believe this is an incredible moonshot. I'm personally holding SHR myself and am very convinced it will do extremely well.
Give a read through it and you will immediatly see why. Enjoy guys.
Introduction
Imagine for a second the following scenario. You are a 2 car family. One car is used every day going back and forth to work, for shopping, all the little jaunts you and your husband like to go on. Your grown children are at university and come home for the weekends so the other car sits in the driveway all week and doesn’t get used during the week. What a waste of a perfectly good car. You think to yourself we could put that car to good use and actually help to pay for university fees, by renting it out during the week. However, then you think “well it’s only a little Ford Fiesta who’s going to want to rent that.” Well, it turns out a lot of people want to rent it and for a good price: £34 ($40) per day, a possible $800 per month.
Peer to peer car sharing has grown massively over the last few years and people are making serious money by letting our vehicles on a daily basis, emulating the Airbnb model. In fact companies like Turo, Getaround and Drivy, which has just been acquired by Getaround for $300 Million, are bringing in serious investors like Toyota, Softbank Vision Fund, Menlo Ventures, and IAC to the tune of over $800 Million.
A key difference between rental companies and peer to peer is that they have vastly improved technology with app interfaces that make locating assets and resources, reserving and using them, and making payment convenient and seamless. This, combined with location-specific analytics, allows by-the-minute access to assets and resources (e.g. cars or bicycles) and enables customers to pick up and drop these assets where and when convenient.
Car sharing is just one example of an industry that is being disrupted. We have seen, experienced and read about the amazing growth of Airbnb which is now estimated to be valued at $38 Billion. Airbnb has been so successful that companies like booking.com are trying to get in on the act by adopting a similar model when it comes to booking accommodation.
There is also the phenomenal rise of bicycle rentals which we see in cities all over the world, not quite the same as peer to peer sharing, but it’s another rental model that is ripe for being disrupted by the new sharing model.
With this business model in mind what other areas could it be used in:
Transport: Used for the rental of cars, trucks, scooters, trailers, and even heavy vehicles. Delivery Drivers: Facilitate booking and payment for delivery drivers. Agriculture: Garden sharing, seed swap, bee-hive relocation, etc. Finance: Peer to peer lending Food bank, social dining Travel Tours, shared tour groups Real Estate Airbnb, co-housing, co-living, Couchsurfing, shared office space, house swapping. Time: Labour, co-working, freelancing Assets Book swapping, clothes swapping, fractional ownership, freecycling, toy libraries. Transportation Car sharing, ride-sharing, car-pooling, bicycle sharing, delivery company, couriers And so much more!
This newly emerging, but highly fragmented sharing industry, is currently worth over $100 billion. It is predicted to grow to at least $335 billion by 2025.
As you can see from a few examples above the sharing economy has a lot of room to grow but what it doesn’t have, yet, is a company who can facilitate ALL of the above use cases in one place.
That is until now!
ShareRing is disrupting the disruptors by bringing everything together in one place and making it easy for you and me to share anything and everything and making it as easy as opening an app on your phone.
Business Case
The sharing market has exploded over the last several years. This is due, in part, to the digital age we live in, as we now have over 2.82 Billion people with smart phones around the world. It also due to how easy the business model of sharing lends itself to the digital world, and how with the simple installation of an app we can access a plethora of markets to rent almost anything from.
Due to this rise of digital platforms and the proliferation of smartphones, revenues coming from sharing economy platforms are only expected to increase. It is estimated to grow to a $335 billion industry in 2025, compared to its $14 billion value in 2014. (PwC UK).
The beauty of the sharing economy is that it is a win/win/win situation for the person who wants to rent something for a few days or weeks, the person who is renting out, and the company who facilitates the ease of the transactions between the renter and the person renting out. Typically the renter will save a lot of money whilst renting out someone else’s apartment, car, bicycle, clothes, dog sitting services etc and they can almost be assured of quality due to the social side of the business model with reviews from real people. The person who is renting out can make additional income and will want good reviews and therefore keep the standard of service higher. The company that is facilitating all of this can make a lot of money on transaction fees, as well as from advertising, and partnership deals, and obviously have an exit strategy for possible buyouts.
When it comes to looking at the business model, ShareRing fits in to the Commission Based Platform as described in Ritter and Schanz study where they looked at the core difference in difference business models of the sharing economy: Singular Transaction Models, Subscription-Based Models, Commission-Based Platforms and Unlimited Platforms.)
Commission Based Platforms are dominated by (at least) triadic relationships amongst providers, intermediaries and consumers with a utility-bound revenue stream. These business models enable their customers to switch between provider and consumer roles by creating and delivering the value proposition. Only a few employees work for the intermediary and the value creation and delivery is externalized. From a consumer perspective, consumers are empowered to collaborate with each other and to design the collaboration terms by negotiating the terms and conditions of the content, creation, distribution and consumption of the value proposition. Depending on the orientation of the value proposition, consumers purchase commodities (Tauschticket, ebay), access commodities in a defined timespan (booking.com, Airbnb) or buy services (uber, turo) from occasional and professional providers found via an intermediary. The intermediary mainly focuses on nurturing a community feeling and reducing exchange insecurity by incorporating rating systems, micro-assurances and standardizations of payment and delivery into the platform. The platform mainly takes commissions for successful matching and executing trade. (Journal of Cleaner Production Volume 213, 10 March 2019, Pages 320-331)
The USP of the ShareRing Business Model
The USP that ShareRing has is that it brings all of the different forms of sharing together in one app through partnerships and onboarding of users.
No other company, to date, is bringing everything together in such a way. However there are other factors that make ShareRing unique, which we will look at.
Token Economics
SHR is a utility token and will be used to pay for transactions on the network, such as 'new booking', 'add asset', etc. SHR is used by providers to pay for their access to the ShareLedger blockchain, including the addition of assets, renting out of assets, adding attributes, adding smart contracts, and other features.
SharePay (SHRP) is used by customers to pay for the rental of assets.
Masternodes will also be a main feature of the SHR token. When a transaction fee is incurred, it will be distributed in a way that allows for masternode holders who provide a service to the platform to receive a reward from each transaction. Transaction fees are charged to sharing providers in SHR. The distribution of transaction fees will be as follows: 50% - will be distributed amongst the active masternode holders who host an active node on the blockchain at that point in time (these holders provide a service to the platform). The distribution will be based on a calculation of the Total Amount Staked and the total continuous uptime of the node. 50% - will be provided to ShareRing Ltd (view ShareRing owned masternodes) for various purposes that contribute to working capital and platform growth.
Leased Proof of Stake Consensus
ShareRing have chosen the Leased Proof-of-Stake protocol as the consensus algorithm for ShareLedger. This choice is based on the practicality and security benefits evident in the Waves platform. It is also much more cost effective than Proof-of-Work (POW), and will not suffer from the current issues Bitcoin and other POW cryptocurrencies are facing such as scalability and electricity consumption.
As explained above master nodes will be a main feature but there is the other feature of lightweight nodes. A user with a lightweight node will be able to stake their tokens to a full node of their choosing and participate in reaching consensus. They will also be free to cancel their leasing at any time as there are no contracts or freezing periods. The more tokens that have been staked in a full node, the higher the probability the node will have in producing the next block. Since the reward is given based on the total number of tokens staked in the full node, there will always be a trade-off between the size of the full node and the percentage of the reward. As an average user of the platform, you will not need to have technical knowledge on how to set up a node nor will you have to download the entire blockchain in order to stake your tokens. Only a user who sets up a full node will be required to do this, making it simpler than ever for users to earn a reward for supporting the platform.
The return expected for staking is expected to be around 6 - 8% although this has yet to be confirmed.
Buybacks
ShareRing are currently implementing a series of buybacks which started in the beginning of November:
The buyback operation is done at a random time during the week.
If there is enough liquidity, SHR tokens will be bought through a single market order at the time of buyback. In case there is not enough liquidity, a limit buy order at last sell order price will be placed on the market, and will remain open until it gets filled.
The buyback program was implemented to test the API purchase process for when live transactions occur on ShareLedger
The Buyback Program is expected to:
  1. Reduce the supply of ShareTokens available in both public and private markets
  2. Bring New capital and fund inflows into the Shareledger
  3. Substantially magnify value creation for the ShareToken holders
The Token Flow
ShareRing will bring in hundreds of merchants to list their rental products, either exclusively or as part of an aggregator system e.g. When you look at the likes of trivago.com they will list the best hotel prices from multiple merchants who are listed on their website. Essentially ShareRing will become part of the aggregator ecosystem and be listed on sites like trivago.com as well as have exclusive agreements with merchants who are listed directly on their app.
ShareRing’s USP is that they have everything on one place as well as their OneID module with means buyers can get a hotel, rent a car, rent their ski equipment, book events all through the one app and using the OneID.
With that in mind they are going to attract a lot of merchants.
This is where it gets exciting so pay attention to this part.
When a merchant is part of the ShareRing ecosystem and a buyer rents something from that merchant ShareRing will take a small % commission from that transaction. So say someone books a hotel for $100 for the night, ShareRing might take $0.50 as a commission. What ShareRing will then do is go to one of the exchanges that ShareRing (SHR) is listed on and buy SHR tokens directly using an API system using USDT.
Now, the actual commission has not been disclosed yet however if we assume even a 0.25% commission that means for every $100 Million worth of bookings made through the app will net ShareRing $250,000 which means buy backs of $250,000 for the SHR token, which increases the liquidity of SHR on the exchanges.
If you think $100 Million of bookings is a lot, booking.com customers book around 1.5 Million rooms per day, if we estimate an average of $50 per room that is $75 million of bookings PER DAY or $2 Billion worth of bookings per month.
This revenue coupled with revenue from OneID and eVOA makes ShareRing profitable almost from day one of the app going live.
OneID And eVOA
Another exciting development from the ShareRing team is the collaboration between ShareRings Self Sovereign Identity protocol and third party providers to bring OneID and eVOA which will utilise OneID
With the huge rise in E-commerce and with over 2.82 billion people who now own a smartphone we are entrusting our personal information to more and more centralised entities. These entities are frequently hacked and our information is leaked to outside parties.
ShareRing aims to tackle this with their service OneID module.
ShareRing’s OneID solution protects users' data by handling Know Your Customer (KYC) information through third parties and ShareRing’s Self Sovereign Identity Protocol. ShareRing does not hold any identifying information anywhere on its servers. It provides the ultimate security for the renter and also the provider, as the Protocol encrypts and stores your data in a secure manner within your device. Essentially, this means that it is near impossible for a hack or data leak to happen, simply because there is no centralized server of data for hackers to exploit.
The OneID module is very easy to use. The end-user needs to complete their ID submission only once, with the entire submission process requiring less than two minutes to complete. Once this step has been completed, the customers KYC is destroyed by the 3rd party document verification system and the OneID module allows merchants to verify a customer’s identity via a hashed verification packet, stored on the users device and ShareLedger. This removes the need for merchants to store or see personal information; safeguarding both merchants and users from fraud.
To create your ShareRing OneID, simply:
  1. Take a picture of your government ID document
  2. Take a selfie
  3. Confirm and submit your details
This is something I am really excited about for ShareRing and they already have made partnerships for other companies to use this feature which is another income stream for ShareRing.
eVOA
E-Visa On Arrival allows applicants to apply online and receive a travel authorisation before departure – this eVOA can be shown at dedicated Thailand immigration counters on arrival at major Thailand airports, allowing travellers to pass through in minutes.
OneID system is scheduled to become the lynchpin technology in Thailand’s electronic Visa On Arrival (eVOA) system; one of only two companies to partner with Thai authorities to provide this service. The new Visa system eliminates much of the hassle involved in entering the country:
This is a strong validation of the OneID system - immigration controls are some of the most scrutinized processes in any branch of government, and if the OneID solution can operate to their standards then it is truly business-ready. As explained by our COO, Rohan Le Page:
“We are providing our OneID product for Thailand e-VOA (Visa On Arrival) that allows 5 Million travellers from 20 countries including China and India to complete the visa process on their mobile through our app. This provides a streamlined immigration process that negates the need for an expensive and time-consuming process when you get off the plane. Additionally, fraud is mitigated with several extra layers of security in the back end including our blockchain (ShareLedger) consensus model that makes all data immutable and all but impossible to hack.”
Profit Margins on OneID
So how does ShareRing make money from OneID and eVOA?
With each application for an eVOA using the OneID module ShareRing will make an undisclosed commission. The e-VOA is available to citizens of 21 different countries and is intended for those who will be holidaying in Thailand and not working in the country.
This means that each eVOA will last for a period of around 15 days which effectively means that ShareRing will get commission multiple times from each person travelling to one of the 21 countries listed below:
Andorra, Bhutan, Bulgaria, China, Ethiopia, Fiji, India, Kazakhstan, Latvia, Lithuania, Maldives, Malta, Mauritius, Papua New Guinea, Republic of Cyprus Romania, San Marino, Saudi Arabia, Taiwan, Ukraine, Uzbekistan
The profits on this alone, according to projections, are worth millions of dollars per year to ShareRing, with a healthy growth of about 35% in raw profit over the next 5 years, ultimately netting the company about $1.5 million profit per quarter.
The ShareLedger Blockchain Platform
ShareRing will utilize the registered intellectual property from the existing KeazACCESS framework (KEAZ: A car sharing company founded by Tim Bos) as well as improving it the blockchain experience in their team.
It will consist of fo the primary elements:
SharePay (SHRP) – SharePay is the base currency that will allow users of the ShareRing platform to pay for the use of third party assets. ShareToken (SHR)
ShareToken (SHR) is the digital utility token that drives sharing transactions to be written to the ShareRing ledger that is managed by the ShareRing platform.
Account – This will be a standard account, which such an account being represented by a 24-byte address. The account will contain 4 general fields:
SHRP – SharePay token balance
SHR – ShareToken balance
ASSETS – linked/owned by the account (see below for definition of an Asset) ATTRIBUTES – Any additional attributes that are associated with this account. These attributes may be updated or added by Sharing Economy providers that utilise the ledger such as ID checks by rental companies. These attributes may be ‘global’ (i.e. used by any sharing providers) or ‘local’ (i.e. used by a specific sharing provider).
Assets – An asset represents a tangible real-world or digital asset that is being shared, such as a car, a house, industrial machinery, an e-book, and so on.
Smart Contracts – Similar to a number of other blockchain platforms, such as Ethereum and NEO, the ShareLedger blockchain will feature highly customisable smart contracts. These Smart Contracts will allow for decentralised autonomous applications that can be attached to an asset and/or account. Every smart contract will be Turing complete, meaning it will have the ability to implement sophisticated logic to manage the sharing of the assets. The smart contracts will be tested and reviewed by ShareRing in a sandbox as well as audited by reputable third-party code auditors prior to implementation.
Proof of Stake Consensus
ShareRing have chosen the Leased Proof-of-Stake protocol as the consensus algorithm for ShareLedger. This choice is based on the practicality and security benefits evident in the Waves platform. It is also much more cost effective than Proof-of-Work (POW), and will not suffer from the current issues Bitcoin and other POW cryptocurrencies are facing such as scalability and electricity consumption.
The ShareRing App
At the heart of the ShareRing project lies the ShareRing app:
A universal ‘ShareRing’ app is being developed that will allow anyone to easily see and use any sharing services around them. Each partner will have the option of developing a ‘mini’ app within the ShareRing app that will have functionalities specific to that partner. The app will use geolocation-based services to display the ShareRing services that are nearby
Social Media Presence
Coming from a social media background I feel this is an extremely important area to look into, especially in the crypto world.
ShareRing has done an okay job in growing their social media presence however I feel it could be much better. Here is a look at some of the key stats for their online social media presence:
Youtube: 191 Subscribers Instagram: 238 Followers Linkedin: 376 Followers Telegram: 6,525 members (very active) Twitter: 2,216 Followers (Fairly regular updates) Facebook: 1,965 Followers
Whilst social media may not be a priority just now I feel there has to be a big presence with image-based platforms and video-based platforms. Youtube and Instagram should be made a priority here as it spans all generations:
Other News on ShareRing
There is a lot of stuff going on at the moment with ShareRing which is what makes it an exciting prospect. Rather than give information on each of them here are some highlights provided by the ShareRing team.:
- ShareRing's revolutionary ID management based module OneID.
- Worlds first Blockchain based eVOA in place with major Thai company targeting 5 to 10 million travellers from 20 countries.
- 2.6 million International Hotels/ Accommodation coming on to the Platform. Lots more to come!
- Partnership with HomeAway
- 200,000 Activites, Tours and Events added to the ShareRing App
- Multi Global Car Sharing Partnerships
- 1 Partner Directly Integrating SHR's OneID consisting of 1.2 million Vehicles across 150 Countries
- Luxury Car Brand Sharing Platform purely based on SHR
- SHR payment system SHRP available in 10% Taxi Terminals in Australia
- SHRP available in 10,000 EFTPOS Terminals Australia wide
- White Labelling Services incorporating ShareRings revolutionary OneID
- 20 Significant Unannounced Partnerships, more to come!
- Major Partners include -
- BYD (Largest Electric Car Maker in the World)
- DJI (Largest Drone Maker in the World)
- Keaz (300 locations around the world)
- Yogoo EV Car Sharing
- MOBI Alliance Member
Overview of Positives and Negatives
Negatives
Social Media and marketing possibly needs to be ramped up in order to bring more awareness to the project.
The roadmap and white paper has not been updated recently for 2019/2020 but this I believe is coming soon.
Positives
With a low market cap project like ShareRing the risk to reward ratio is very good for retail and institutional investors.
Technical analysis of current prices, currently at 31 Satoshi, is also very good with resistance levels at 50, 77 and 114 Satoshi which would be nearing its all time high.
Referral program will increase the numbers of users that are currently using the site.
If ShareRing can capture even a small % of the overall sharing market then success looks assured.
There are 20 new announcements coming up and with Tim Bos looking for more partnerships it seems likely that ShareRing will break ATH prices soon.
Great long term hold, in my opinion.
Realistic Expectations of ROI
Short term (4 weeks - 12 weeks)
Short term looks great for ShareRing both from a TA point of view and a fundamental point of view.
With lots of news still to come out about ShareRing there is not going to be a shortage of fundamentals to drive the price up. From a TA point of view the next line of resistance stands at around the 50 Satoshi level which would complete a massive cup and handle formation from August 24th of this year. After that we are looking at resistances of 77 and 114 to reach near the all time highs which i expect ShareRing to reach going into 2020.
Long term (6 Months - 2 Years)
If ShareRing can onboard users and keep on making partnerships at the same rate there will be no stopping it. It’s all about onboarding the users and utilising the most powerful marketing tool ever - word of mouth!
When a great app is realised with great and useful functionality then it tends to go viral and I am hoping this happens for ShareRing.
With a market cap at the moment of just under $6 Million then I don’t think it’s crazy to talk about 1000% increases in the next 2 years and I really believe that is being extremely conservative, given where we think crypto is heading as a whole.
submitted by Grills93 to CryptoMoonShots [link] [comments]

A Lost Gem In A Sea Of Shitcoins (vol. 2)

What’s up everyone! (TL:DR at the end this time, I've learned from my past mistakes haha)
 
Yep, it’s me again! New case for a new coin that seems to have taken off lately (and for good reason!) I’ve been researching it deeply lately. For those of you wondering (and in a voluntary spirit of being transparent), I do hold nice bags of the coins I post about. However I do not dump them. I’m a HODLER at heart, and love to invest in and hold coins that have a purpose. You know, like, an actual purpose. I have a Phore masternode, which i intend to keep running indefinitely. I also have a decent chunk of COSS, which I also intend to keep for a very long time (3+ years, until they are a full crypto one-stop-solution).
 
If you’ve missed my previous post, you can find it here:
 
A Lost Gem In A Sea Of Shitcoins, Vol. 1: https://www.reddit.com/CryptoCurrency/comments/7h69xa/a_lost_gem_in_a_sea_of_shitcoins/
 
For those who do not know me, or haven’t read my previous post, here’s my intro: I come from a business & logistics management background. I started investing in cryptocurrencies and trading a little more than six months ago. I am very detail oriented and I’ve been researching all kinds of cryptos, for hours a day, for the past six months. Cryptocurrencies went from a simple hobby to a burning passion during that 6 month period.
 
I’ve spotted great coins at great prices, and it seems I keep doing so! Firstly, Ethereum at 150$. Then NEO when it was antshares (sub-3$), Gas when it was antcoin (sub-30c), OMG when it was sub-1$, ETP at 1$ (ended up selling at 5$, too many wallet issues and kind of lost faith in it), COSS at 6 cents, that ended up getting a lot of visibility due to my last post (23K+ views), and finally, Phore at 60cents.
 
It took me less than an hour of research to understand Phore’s potential. I immediately purchased and setup a Masternode after seeing how undervalued it is compared to coins like Dash, PivX, and other privacy/masternode coins. I must admit, i FOMO’ed in really fast, but then kept on researching after I had secured my cheap PHR, and the more I researched, the more I saw the vision.
 
For those of you that don’t know, Phore is a fork of PIVX. It is a Masternode/Proof of Stake hybrid (MN + PoS), meaning 60% of the block reward goes to Masternodes, 30% to stakers, and 10% is left for the “development fund”.
 
For the newbs reading this (welcome, by the way!), a masternode is basically a node that you deploy on a virtual server (or on your own computer) and it basically verifies the blockchain and maintains concensus alongside the other nodes. You need to “lock” 10000 phore to deploy a Masternode. Proof of Stake, on the other end, basically means you can purchase coins and “Stake them” (aka put them in your wallet) and they will also be used to validate the blockchain. Both masternodes and staking will give you rewards, in Phore coins. Masternodes more than staking, obviously, as you “lock” a rather high amount of coins to deploy one.
 
Allright, so, what’s so good about this Phore coin? Isn’t it just a PivX knock-off?
 
1) Well, first of all, The MN/PoS structure is simply genius IMO. Dash’s value has gone up a lot simply because there is so little in circulation and most of the coins are locked up in masternodes. But Dash is MN/PoW, basically Masternodes + Mining. Miners do not have as big an incentive to hold unlike MN’s, it’s their mining equipment that generates them Dash. In Phore’s Case, yes, we do have the Masternodes locking up most of the supply, but we also have the stakers that are incentivized to lock up their coins to stake, and generate some extra coins.
 
2) Which brings us to point 2. There is a BIG incentive to buy and hold this coin. Masternodes are being deployed at a rate of 5 to 10 per day. This means 50 to 100k phore are being purchased and locked up, every day. On top of that, people that cannot afford a costly masternode, can still buy a few thousand coins and earn “interests” as they help validating the blockchain too! This basically drains the order book, fast, and skyrockets the price.
 
3) What happens when the vast majority (65%+) of the coins are locked up in masternodes, and from the 35% remaining, most of it goes into “staking”? Here’s what happens: the supply becomes increasingly low, the demand increasingly high. People that own masternodes or own decent amounts of coins don’t wanna sell, as the “interests” they make double, triple, quadruple in value, incentivizing them even further to hold.
 
4) What I’ve described in points 1 to 3 is pretty basic stuff. Economics 101. It’s a positive feedback loop: More MN’s/stakers = less coins in circulation = higher price = higher “interests” earned = more people want in = even less coins in circulation = even higher price = even higher “interests”, and it repeats itself until an equilibrium is reached (judging from PivX, equilibrium is at or around 425M market cap). Everybody wants in early on PoS coins, even moreso with MN coins, because of that simple fact. Early dash masternode owners are pretty much laughing right now. Everyone FOMO’s a good masternode coin, and that’s a fact, pure and simple.
 
5) Alright, now let’s dive into the actual “technical” merits of Phore. Phore is developed by an anonymous team. The same team that created Kryptcoin a few years ago (a coin with a decentralized marketplace). The team performed in a stellar fashion with kryptcoin, as well as their marketplace. Unfortunately, they were way ahead of their time with the marketplace. Most people didn’t even know what a bitcoin was back then. Phore definitely has this “old school, underground project” feel to it, and you will notice a good chunk of its community on discord are crypto believers from well before crypto was even talked about. They are “remaking” Kryptcoin from scratch, with tons of added features, and an even better marketplace. The fact they pulled it off back then only further reassures me that they will pull it off even better this time. This team actually has something under its belt.
 
6) Phore will have SegWit, as well as Smart Contracts. Yep, you read that right, smart contracts and dApps will eventually be running on PHORE. Zerocoin protocol as well for completely anonymous transactions.
 
7) Phore is integrating a Decentralized marketplace based on OpenBazaar’s codebase. They aim to have it running smoother, with a better UI and make it very intuitive. If there’s one team you have to believe can pull it off, it’s definitely the Phore dev team (They already did it in the past!) And the best part is that it’s not for late 2018 unlike some other coins. Nope. We are already in the testing phase, and it should launch somewhere in Q1 2018.
 
8) Although it is obvious, I thought I’d mention it for the less familiar: 10% of each block reward goes to the development fund. This means the project has a constant flow of money to hire new devs, grow the marketing team, grow the project, pay for exchange listing fees, etc. (They’ve already added an extra dev & an extra marketing team member, just this week, and are already hiring right now for another dev position. So, if you are a talented dev, feel free to apply!)
 
9) They have applied for Binance today. Although this does NOT mean it is guaranteed, at all, it’s good to see them applying to a variety of exchanges. It is currently only available on cryptopia and is skyrocketing. Getting added to Binance, Bittrex and the likes would make it explode in a ridiculous way.
 
10) Point number 10 will be a little off topic, to put us in context for point #11. Personally, I like to contribute feedback to projects i truely believe in. One example I came up with was a cool idea for COSS and I let Rune (COSS founder) know about it. Basically, when COSS will get FIAT trading, it is impossible for people to get USD and EUR “fee split” from holding COSS, as USD and EUR are not compatible with the DAO, which is an Ethereum Smart Contract.
 
My way around this was to create a “COSSusd and a COSSeur”, basically an ERC20 token that’s automatically created/destroyed as FIAT is deposited/withdrawn from the exchange. People sending fiat over to COSS would basically be credited with the “COSSusd or COSSeur”, trade with it, and then when they want to withdraw they would exchange their ERC20 for FIAT and withdraw it via wire transfer. The whole thing would be smart-contract powered and transparent so there is always the same number of COSSusd and Real USD on COSS.
 
Basically, this would result in COSS holders receiving “fiat dividends” as well, and not only “crypto dividends”. Rune is currently in the process of getting legal opinion on this idea as he is an adamant believer in compliance and wants to do everything by the Book.
 
11) Well, for Phore, I’ve also contributed a few ideas to attempt to make the marketplace go viral. Viral as in mainstream viral, not only viral in the crypto-space. The devs, advisors, marketing team, advisors and even the community were all very impressed and took notes of everything. Now I cannot comment on what will and what won’t be implemented, but overall my feedback was received in an extremely positive manner. Here goes:
 
To get the mainstream we need something like: https://www.reddit.com/vertcoin/comments/7ixkbf/vertbase_a_vertcoin_to_usd_exchange/
 
Basically an easy gateway that's only fiat > phore. Coded in a way that when you purchase with fiat it automatically sends it to your wallet (and obviously we'd need to have a phore mobile wallet app).
 
This is how Phore will go mainstream, no way around it, unless we wanna wait 10+ years for every crypto "newbies" coming in to actually go through the lengthy process of learning about crypto, how they work, familiarize themselves, etc. So many newbies flooding in, we definitely need easy one-click fiat > phore solution.
 
Plus it would be super easy for me or phore marketing team (or both, working together) to put up a small nice and concise "press release kit" and send it out to all the major media outlets (all the big blogs, bloomberg, yahoo finance, lifestyle blogs for the libertarian / marijuana users / all the people that are into the whole “freedom thing” as well as all media outlets targeted to the 18-30 crowd).
 
Facebook advertising campaigns (targeting 18-35 age range, people interested in crypto, people interested in "online commerce", etc etc.) as well as google advertising campaigns (people search amazon or ebay, and they find our sponsored paid ad on top saying "thinking of trying amazon? Check out the phore marketplace, it's cheaper, blockchain-powered and 100% decentralized".
 
*Instagram campaigns as well, lots of the 16-30 crowd there. Instagram, google, Facebook and Reddit campaigns and any other viable channels. We can do all these things AND succeed at them quite easily, all we need is 1) an intuitive marketplace, which the devs are busting their asses off to achieve and we KNOW it'll be phenomenal, and 2) a fiat > phore gateway integrated. That second point will make or break it in terms of mainstream adoption, hence why it's indispensable to have it before we tackle "mainstream marketing" via FB, IG, Google, Reddit, Twitter, Blogs & Other Media outlets.
 
Ideally the fiat > phore gateway would be on the website itself, so people get credited their phore directly on their marketplace account. With a mobile wallet being a nice add-on of course so they can keep the extra phore in there when not in use, and 1-click transfer from marketplace to mobile wallet and vice versa, "a la paypal/dash evolution.
 
TL;DR for the lazy: Masternodes + PoS // Self-sufficient project due to the “treasury fund” // Stellar team who has ALREADY DONE THIS before // Currently underserved (cryptopia only) // Team applied to exchanges including Binance // Segwit + Smart Contracts + Strong privacy features // Decentralized Marketplace being beta tested as we speak and launching Q1 2018 // Strong incentive to hold as both Masternodes AND stakers dry up the supply for staking purposes, which creates a positive feedback loop (coins get bought, price goes up making the “staking & MN rewards go up”, making more people want a MN or Stake, more people buy, price rises again, “interests” earned go up, rinse and repeat in an endless loop until equilibrium is reached).
 
Currently, a masternode generates roughly 120phweek. Calculate Phore’s current price multiplied by 120 and you’ll get a pretty solid estimate of the weekly revenue generated from a Masternode.
 
Lastly, here’s a cool pic comparing Phore to other privacy coins, for you visual folks: https://i.imgur.com/ZVVEqyH.jpg
 
As well as a cool short video from one of the winners of the community video contest: https://www.youtube.com/watch?v=P4veIgQmmBs
 
Well, that’s it for now folks! As usual, not investment advice, and always do your own research before coming to conclusions. I am just a random internet stranger after all.
 
Cheers! :)
submitted by globetrotter_s14 to CryptoCurrency [link] [comments]

Bitcoin’s digital gold, but Facebook’s Libra is the digital dollar—here’s why that matters

The crypto craze is gaining serious momentum.
On Tuesday, social media giant Facebook unveiled plans for a new cryptocurrency called Libra, backed by a host of companies including Visa and PayPal, that would function as a digital payment on its platform. Other project partners include eBay, Uber and Spotify, indicating that Libra may eventually be accepted as payment on their platforms as well.
Many experts, including bitcoin bull Brian Kelly, see the move as a validation of the rise of cryptocurrencies.
But Kelly, founder and CEO of BKCM and resident bitcoin expert on CNBC’s “Fast Money,” said there are some crucial differences between Libra and a cryptocurrency like bitcoin.
“This is really the main difference: what Libra is doing is creating a digital version of the U.S. dollar, yen, euro. It’s like a stablecoin, but you still have all the characteristics of a fiat currency, ” Kelly said Tuesday on “Fast Money.” “Bitcoin is … digital gold. And, in my opinion, it’s probably a lot better than gold, but there is no trusted third party involved, and that’s the huge difference.”
“You have to trust Facebook that they’re going to hold onto those dollars, they’re going to keep track of the ledger, and that your token’s going to be worth something. You go out, you buy your goods and services on the Facebook platform, whoever else is using it. Maybe Uber somehow is involved. And then you’re left with the Libra tokens that are left over,” he said.
That trust defines the main difference between cryptocurrencies like bitcoin and Libra, Kelly said. Bitcoin buyers don’t need to entrust a third party with their money or information, whereas Libra users will have to trust the company that has perhaps been most plagued by issues around trust and privacy: Facebook.
“This is about that trusted third party and, to me, that’s the revolution of crypto, is that it is peer-to-peer. You disintermediate financial services,” Kelly said. “So, when you talk about the differences between this and something like bitcoin, bitcoin is trustless. You don’t need to believe that anybody’s going to check that ledger; you can do it yourself.”
So, as Libra seeks to provide what Kelly saw as “the next iteration” of platforms like PayPal’s Venmo, it may just open the door for consumers to look into the cryptocurrency market in a more serious way, he said.
“This is a huge step forward. Facebook’s going to have a nice-looking wallet that everybody can get on. It’s easy to use. You can start moving this stuff around,” he said. “This validates the technology and gets people involved. To me, it’s like the AOL moment: AOL got you online, Libra’s going to get you into crypto.”
Facebook shares fell by less than 1% by the end of Wednesday’s trading session amid some political pushback, but are still up more than 3% this week. Bitcoin prices rose by nearly 2% by the end of the day’s trading session and are up 140% for the year to date.
submitted by VoltzUK to u/VoltzUK [link] [comments]

Mtgox: Calm Down Dear

TLDR: Gox never was that great, don't just swallow all the freaking-out.

UPDATE in my understanding:

1) 10% of coins on gox are 'off the books'. Have they gone? There are interesting changes to the orderbooks too. Very low price orders (<$100) are being moved/withdrawn.
2) The withdrawl problems I understand to be that they tried to send a whole bunch of bitcoin payments in chunks, but didn't put enough transaction fee for the size, so miners didn't pick them up. Mtgox has to wait for them to ..(come back?) before re-sending them. Like posting a cheque to somebody, but not putting a stamp on the envelope.
Isolvency: very unlikely Criminal: unlikely (and unwise) USD withdrawl problems: Old news (USD is an old market) JPY: all good (I assume) usecehmu Slow BTC withdrawls: bad if true, probably not true Zillions of support tickets: Not great, but old news, and they have Zillions of customers.
High prices because people are exiting gox: Dumbass perma-myth (in my opinion)
Gox is hard-core. I love it.
BTC-e was being touted as a 'market leader' but, yet again FREAKED out at the last mini-drop. Gox knew better and blitzed up the numbers: "that ain't a knife"
This blah uses basic meachisms to blow away some things that might be counter-intuative at first glance. It is not supposed to be ultra clever.
Mechanisms:
No USD withdrawls: Gox is not a currency exchnage, but sells BTC to any currency at a 'single' price. Example: Americans are 'generally' withdrawing money, Chinese are pumping money in. Gox has loads of YEN, no dollars, but BTC prices are rising and rising. Therefor, you can't withdraw dollars, because Gox ain't got none, despite your coins being worth a high dollar value.
USD Withdrawl issues might not be the "big deal" people seem to think it is:
1) USD does not mean Americans. Many people trade dollars because many people trade dollars. This means that USD withdraws are... not as big a problem as you might expect. If you're expecting gox to disappear becuase Americans can't get their money... it might not happen. I understand that European withdrawls are reliably slow (~month) and Japanese withdraws are in the days range. 2) Why would you withdrawn fiat. Only a few Pro Traders would do that, but then, the returns on BTC are so mental, they'd probably just keep growing BTC anyway.
Insolvency: Just like ebay allows you to buy and sell stuff, 'Gox allows you to buy and sell bitcoins. They don't personally send their money. In the event of a run-on-the-gox, simply the price will either drop/go through the roof depending if fiat/BTC is coming out. No sweat of 'goxs back. It's just matching buyers with sellers.
Gox is probably absolutely loaded. For every of 1,000 BTC exchanged, they're currently getting about $5000. For what? running a website? Isn't that when the computers do everything? Pr-ofit.
Asside from that it's just business as usual. Slow BTC withdrawls aren't great. If 'coins stop coming out of gox, that's bad, but they shouldn't. These are not 'goxes coins. Every coin in should be withdraw-able, unless criminal stuff has gone on.
High-gox-price-is-people-existing-myth: This has been the 'accepted reason' for high gox prices since june - i.e - forever.
Just quickly:
  1. If people really were exiting gox in a hurry, then yes, the price would rise, but also, They Would Have Gone. Gox-price has been consistantly high for ages. China trumped it because it was crazy for coins.
  2. I am convinced that the other exchanges have a different risk-profile. Also BTC-E is an exit-point for other cryptos = lower lows.
  3. It might be that Gox has the oldest (and most powerful?) robots on. I understand the API to be better. Bots NEED APIs. They might drive the price. Moving bots is a real freaking hassle. Try telling it to adjust it's old data for price differences? huge loss.
  4. If fees are higher, that will probably also drive prices up faster (in order to make the same profit on a trade, it needs to rise more)
  5. If you were a serious trader, looking to exit gox, you'd do it in a clever place. There have been plenty of perfect opportunities to exit over the last 3 months. Pro traders would a)not be so scaredy cat b) probably not leave unless they needed to. c) probably dont need to
  6. Becuase of the high prices and volatility, gox is a great place to trade and make money, so it's not without it's charms.
  7. It might be that it's closer to the asian market, which might be different from 'stamp and '-E.
  8. At the moment I think it's hyper-high becuase Gox is usually the "first one up", and it thinks we're off on some new bubble. I'm not sure I believe it, but that's a different thread.
  9. Slow withdrawls might be enough to fight arb, and therefor insulate high prices. This is different from people exiting gox.
  10. Coins have exited gox, but only around half. They other exchanges may have risen around them. In terms of $dollar value, it's dealing with 5x more than 4 months ago ish (with half the coins, but 10x price rise).
I don't know the exact-stuffs, but I just wanted to post these points so people at least had seen them. I'm hoping this isn't downvoted to death, but am fatalistically indifferent if it does.
submitted by inteblio to BitcoinMarkets [link] [comments]

Syscoin, Fidelity, and the Indian Ministry of Finance

https://youtu.be/zIkgF5OlhIQ
SYSCOIN -Some of you may have noticed today the huge rise in price of syscoin. But what is syscoin? I certainly didn’t know before today. Syscoin is ebay for the blockchain. You can download their wallet to buy, sell, or trade anything online. There are tons of perks with this that you wouldn’t get with a site like ebay, however. The first is obviously cost. It’s much cheaper to post something on Syscoin’s network than to sell it on a centralized platform like ebay. Your money is also much more secure on Syscoin, due to their built-in escrow system. This means you you can send funds to a mutually agreed upon third party until the goods or services arrive. Also, you no longer need a really long account address. Using Syscoin’s blockchain you can setup an alias to make the process of buying and selling easier. Building on that, you can also use the wallet to send and receive encrypted messages, so you can communicate with others on the marketplace. All of these things are done on a lightning fast network which just a few months ago initialized Segregated witness, also known as segwit. Even as the network grows, scaling will not be a factor.There are many more exciting features coming to Syscoin by the end of this year, like their emergence on the Microsoft Azure Marketplace. Also, their marketplace will have a mobile version. Really great work is coming from this team and I wish them the best of luck.
FIDELITY -For those of you like me that also have stocks or mutual funds in your portfolio, you might be surprised to find out that Fidelity is bringing integration for blockchains to their website. They will display your assets you currently have listed on Coinbase. For those of you that have cold wallets, you might be out of luck. However, this is a step in the right direction! The fact that investment companies are now looking at cryptocurrencies as equals to stocks is a really great sign. CEO of Fidelity even went on to say “I love this stuff - bitcoin, ethereum, blockchain technology - and what the future holds”.
INDIA MINISTRY OF FINANCE -On May 20th the Indian Ministry of Finance announced that it would be taking inputs from the public on whether virtual currencies should be banned, regulated, or observed. This news is huge for the rest of the world. If India were to regulate the sale of cryptocurrencies like Japan did in April, it would open up a brand new market for those seeking to trade in their Rupees for a stronger currency. No doubt about it, Bitcoin and other cryptocurrencies are performing much better than most if not all government backed currencies.
QUESTIONS FROM YESTERDAY -Rick Breezy commented: ”Clayford08, I put my LTC on a paper wallet and put a passphrase on it, I went to go an sweep it on to a wallet and it won't let me, it needs to be decrypted? Any help to get my LTC on to me ledger nano from my paper wallet would be appreciated with a 1ltc coming your way. Thank you for what you do!” Go to https://liteaddress.org/ and type in your private key in the wallet details section. Once you do that, it will give you the public key you need to import your wallet. You can't import an encrypted wallet without decrypting it first. Hope this helps! -Brian Turner commented: “I've got a stupid question. I used shapeshift to swap ETH for GTN, but I used my coinbase ETH wallet address for the destination. I can see my Golem using Etherscan, but I don't know how to transfer or get access to them. Am i screwed until coinbase adds GTN to their platform?” If the address you sent the golem to is not an actual golem address, hopefully it will cancel the transaction and send you back your ETH. If not, then you might need to contact shapeshift to see if there is anything they can do. Using the ETH wallet, if you try to input an invalid address, it will not allow you to send. I'm assuming this didn't happen. I would wait a bit to see if it goes through and then contact shapeshift.
INVESTMENTS FOR THE WEEK -Right now I see ripple dropping below 10k satoshi. If you can get a buy in on this ground level, now is a great time to buy and hold. Also, Digibyte is in a great place to buy. If you can buy in around 500 satoshi, scoop up as much as you can. As always, I tell everyone to invest in Ethereum. If you can’t afford an entire Ether just buy what you can. Remember to never invest more than you can afford to.
submitted by -Clayford08- to CryptoMarkets [link] [comments]

Ads for 2016-12-28 (1 / 2)

Subreddit Title Brand
news Delta to cancel order for 18 Boeing 787 Dreamliner aircraft Boeing
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AskReddit What is your Uber Rider Rating? Uber
funny You're Not Google ... Google
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worldnews Have more famous people died in 2016? - BBC News BBC
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videos LAZY UPS DRIVER CAUGHT IN A LIE UPS
AskReddit Take a religious quote, put it through Google Translate 10 times, and read this quote. This is a quote from your new religion. What is it called? Google
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Showerthoughts In general, I've found azlyrics.com to be more accurate when I want lyrics than the Google Play lyrics Google
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AskReddit What are the best phone VR games/Apps for something like Gear VR or Google Cardboard? Google
movies It only made sense to do this. RIP Carrie Fisher. Credit to Neil Bernard of the Facebook Group Movie Set Memes, not me. Facebook
news 'Middle age health crisis' warning - BBC News BBC
Futurology The rise of the robots? An article from the BBC that provides a summary with links about the rise of automation and its effects BBC
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videos Duck and Cover: A social guidance film produced in 1951 by the United States Defense Branch shortly after the Soviet Union began nuclear testing. United
Jokes The love affair between Carrie Fischer & Harrison Ford is over.... Ford
funny Popped up on Facebook earlier.... Facebook
science Amazing science stories from 2016 - BBC News BBC
worldnews Orwellian: Germany Considers Fining Facebook $522,000 Per Fake News Item Facebook
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gaming My Smoking Xbox One Xbox
gaming An achievement unheard of by most BF1 players on Xbox One... Xbox
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aww I see your Lego cat and raise you mine! Lego
todayilearned TIL: Some McDonald's in Australia are called Macca's McDonald's
gifs TrackingPoint system combined with Google Glass Google
aww I see your Lego cat and raise you mine! Lego
AskReddit Why Does the United States Have 3 different ages for consent, legal adulthood and drinking? United
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Showerthoughts The NFL should establish an "And One" rule where if someone gets a TD while receiving a penalty, they get one extra point. TD
movies Amazon and Google offer 99¢ movie rentals thru January 27, 2017 Google
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science A new report indicates LGBT people are disproportionately incarcerated in the United States. Researchers also discovered that sexual minorities were more likely to be mistreated and sexually assaulted in jails and prisons. United
AskReddit What childhood thoughts/memories did you have of the McDonald's characters? McDonald's
videos The Truth About the McDonald's Coffee Lawsuit McDonald's
personalfinance I've saved up £11,000 in the United Kingdom United
gaming Need For Speed Nissan GT R Premium 2017 Nissan
pics I risked my life to take this pic of a Land Rover deep in hibernation. OC Ashton, Idaho Land Rover
Music Emerson, Lake, and Palmer - "Take A Pebble" prog/jazz We have lost Keith Emerson and Greg Lake in 2016. Enjoy this, their most beautiful song, recorded live at the peak of their powers in 1971. RIP. Emerson
AskReddit You go to the electronics store and see that someone has not logged out of Facebook on a computer. What do you write on their wall? Facebook
videos Corey Feldman's 1976 McDonald's Christmas Commercial McDonald's
pics Star Wars Lego People Lego
funny The New Apple Macbook Pro Will Have An All New Redesigned "Keyboard" Apple
funny This McDonald's sign stuttered. McDonald's
worldnews Delta to cancel order for 18 Boeing 787 Dreamliner aircraft Boeing
gaming Is anyone else having issues connecting with xbox live on forza horizon 1 on the Xbox one? Multiplayer and the design marketplace work fine on my 360, but it won't connect on my Xbox one. Xbox
space China is going to beat the United States back to the Moon United
todayilearned TIL that a guy named Birdseye invented a technique to freeze food in 1923. His new company went bankrupt, but determined, he improved his process, and got 2 more patents! In 1927, he sold his company to Goldman Sachs for $22 million! Goldman Sachs
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AskReddit Which popular Youtube channel makes amazing content? Youtube
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AskReddit SeriousRedditors,why you keep coming back to Facebook when you know there's nothing? Facebook
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funny How To Masturbate Funny Yahoo Questions Yahoo
explainlikeimfive ELI5: Why does using Google DNS unblock blocked porn? Google
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worldnews ‘Fake news’ link to 2015 bombing activates Facebook safety check for Thailand Facebook
worldnews South Korea fines Qualcomm $854 mln for violating competition laws Qualcomm
food For Christmas/my birthday dinner, I ate "Prime" ribeye steak with horseradish au jus, garlic mashed potatoes, and grilled asparagus from Asado Seafood and Grill in San Antonio, TX . . . au
Showerthoughts I hope Harrison Ford is okay. Ford
funny Alexa and okay Google have a nice conversation Google
Jokes So Mike Tyson came to dinner. Tyson
AskReddit How do you make Xfinity X1 even better? Xfinity
pics Cat on a cold tiled roof - BBC News BBC
worldnews What lies in store for the world in 2017? - BBC News BBC
worldnews Bangladesh factories sack 1,500 after garment worker protests - BBC News BBC
dataisbeautiful The Most and Least Dangerous Counties in the United States OC United
explainlikeimfive ELI5: That Weird Apple Christmas Commercial's Meaning/Point. Apple
OldSchoolCool Carrie Fisher with Harrison Ford 1970s Ford
funny 2016 Victoria's Secret Show Victoria's Secret
science Anticholinergic medications, a class of drugs very commonly used by older adults, are linked to an increased rate of emergency department and hospital utilization in the United States United
worldnews 'Middle age health crisis' warning - BBC News BBC
explainlikeimfive ELI5: Why is Google translate and others so bad at translating? Google
gaming Love that the screws inside the PS4 have the Sony PS symbols on them. Sony
todayilearned TIL Henry Ford pursued the gasoline-powered automobile after receiving encouragement from his employer and boyhood idol, Thomas Edison. Ford
todayilearned TIL back in 1999 the United Nations proposed a global tax on every email sent United
movies Brendan Fraser is trending up on Google with all the Reddit commotion link to graph Google
AskReddit What pupular Youtube channel makes absolute shit content? Youtube
pics Jalousie slums in Pétionville, in the suburbs of Port au Prince, Haiti Photo by Yann-Arthus Bertrand au
AskReddit Reddit, what would Apple name their VR headset? Apple
videos Roman Reigns vs. Kevin Owens – United States Championship Match United
worldnews Dutch IVF centre probes suspected sperm mix-up - BBC News BBC
worldnews Russia plane crash: Data recorder 'reveals faulty wing flaps to blame' - BBC News BBC
gaming My first ever experience with VR PSVR: Playstation VR Worlds: Ocean Descent Playstation
news Australia's Coogee beach bans alcohol after Christmas party - BBC News BBC
gifs Seeing celebrity names on the Facebook "Trending" panel got me like... Facebook
worldnews Syria conflict: Turkey and Russia 'agree ceasefire plan' - BBC News BBC
videos The Most Furious Police Chase 2016- Police pursuit of a drug dealer in a truck Chase
gaming Best Gaming Deals Of The Week: Xbox One, PS4, PC Xbox
explainlikeimfive ELI5: why are some people naturally creative, and able to contribute novel techniques to their industry of choice I.e musicians, Michelin chefs, chess players while other struggle their entire life to just maintain a set standard? Michelin
mildlyinteresting Apparently Pepsi learned nothing from the McDonald's lawsuit. Sorry for potato pic McDonald's
mildlyinteresting Apparently Pepsi learned nothing from the McDonald's lawsuit. Sorry for potato pic Pepsi
videos [“Everywhere" AT&T Commercial. Features numerous pop culture references including Seinfeld, GoT, Back To The Future, Ghostbusters and tons more.](https://www.reddit.com/videos/comments/5kq08x/everywhere_att_commercial_features_numerous_pop/)
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Futurology The rise of the robots? - BBC News BBC
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Futurology The New Cas9? Scientists Discover CasX and CasY Enzymes in Bacteria Discover
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worldnews Israel postpones vote on new Jerusalem settlement homes - BBC News BBC
AskReddit Serious What are the Xbox Achievements for a modern life? Xbox
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AskReddit If you had the chance to be President of the United States or a Pokemon master which would you pick? United
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movies The 100 greatest films of all time, as chosen by 358 directors including Woody Allen, Quentin Tarantino, the Dardenne brothers, Guillermo del Toro, Martin Scorsese, Olivier Assayas, Michael Mann, Francis Ford Coppola, Mike Leigh and Aki Kaurismäki Ford
todayilearned TIL The record for most passengers ever carried by a commercial airliner is 1,088, by an El Al Boeing 747 during Operation Solomon, which involved the evacuation of Ethiopian Jews from Addis Ababa, Ethiopia, and started on 24 May 1991. This figure included two babies born on the flight. Boeing
AskReddit Which is better, the Xbox or the PlayStation? Xbox
worldnews Trump tells Israel 'to stay strong' - BBC News BBC
videos Guy explains why KFC has lost its way, and how to regain its former glory KFC
pics Wow, this is worthy of printing and placing over my bed. Thanks Google Photos Google
explainlikeimfive ELI5: Does the Amazon Echo or Google Home actually record everything it hears? Google
funny This defaced McDonald's drive thru sign. McDonald's
OldSchoolCool Carrie Fisher, Mark Hamill, Harrison Ford 1980s Ford
Showerthoughts There are probably a lot of famous, foreign people who talk like Mike Tyson but I'll never know because I don't speak their language. Tyson
gaming Got my first Xbox and HDTV. Both secondhand and older, but for me they are perfect! Bring on the sleepless nights! Xbox
AskReddit What is baddest thing you did on Facebook that you regret the most? Facebook
news Dylann Roof Tells Judge He Won't Call Witnesses or Present Evidence to Try to Spare His Life for Church Massacre - ABC News ABC
food Food for Space Travelers - NASA on the development of Astronaut Cuisine MISC Travelers
EarthPorn A few minutes prior to golden hour down the coast in Corona Del Mar, Newport Beach, CA brought some nice natural light OC 6016x4016 Newport
todayilearned TIL that the United States, which are 50.8% female, has not had a female president for 227 years United
AskReddit Why is Target so popular with Women? Target
personalfinance Question regarding max contributions for Vanguard Target Retirement Fund. Target
television Hulu announces multi-year licensing deal with Walt Disney Studios to bring more than 50 films to the streaming service Walt Disney
worldnews A fake news story on Facebook turned a legitimate safety alert in Bangkok into a bomb scare Facebook
dataisbeautiful Drug use and Crime Stats - Netherlands Compared With The United States United
space Food for Space Travelers - NASA on the Development of Astronaut Cuisine Travelers
pics Reddit was here. Found last night at my local Target store. Target
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worldnews Berlin truck attack: Tunisian 'linked to Anis Amri' held - BBC News BBC
funny Reddit was here. Found last night at my local Target store. Target
WritingPrompts WP People are only allowed to use cars specific to their driving skill. You; an accomplished Le Mans driver are given a beige Fiat Multipla. Fiat
Art Fantasy Ford Model Ts, 3D, Medium Ford
Documentaries Crash and Live 1956 - The Safety Features of Ford Motor Company Cars in the 1950's Ford
Jokes What are the similarities between an Xbox and Michael Jackson. Xbox
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Futurology Murder detectives sought Amazon Echo data - BBC News BBC
TwoXChromosomes Most Low-Wage Workers in the United States Are Women, Study Finds United
worldnews Argentina: Protesters stone President Macri's car - BBC News BBC
Showerthoughts The BBC should dedicate an episode of Planet Earth to urban wildlife. BBC
gifs Heron nails a Namaqua Dove coming to drink Dove
worldnews Dylann Roof: Charleston shooter won't offer evidence to spare life - BBC News BBC
news TSA to Notify Travelers of Upcoming 2018 Real ID Airport Enforcement Travelers
gaming What are some of the best Xbox One games with great story lines? Not necessarily looking for multiplayer, but that would be a bonus! Xbox
AskReddit Where does the idea that people on Reddit have of BMW drivers being assholes come from? Is this a UK thing? BMW
worldnews Nigeria's Sultan of Sokoto rejects gender equality bill - BBC News BBC
todayilearned TIL Gatorade was named after the University of Florida's college football team - the Gators Gatorade
gaming Intense Gaming Rig - Asus Gtx 980Ti, 64Gb Corsair Ram, Intel i7 3.4 HexaCore Hyper-threaded Processor, Two 256Gb SSD's In Raid for Mac OS, One 512Gb SSD for W10, 6TB WD HD for games, Corsair H110i Water Cooler, 3 Corsair HD120 Led fans, 1000 Watt PSU, Asus x79 Motherboard, Intel
worldnews Kerry defends US decision not to veto UN condemnation of Israeli settlements. “I am compelled to respond today that the United States did in fact vote in accordance with our values,” Kerry said of UN security council resolution United
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gaming I found a Refurbished Wii U on eBay for $35 and the seller has a 100% Positive Feedback, do you think it's legit? Should I buy it? eBay
funny After watching Oliver Stone's Untold History of the United States in Netflix. United
gaming My Xbox 360 has cooling issues? Xbox
news 'You Don'€™t Deserve to Have a Son’: Pennsylvania Mom Posted Suicide Note on Facebook Before Killing Baby, Herself Facebook
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pics Night Sky at Joshua Tree National Park Sky
gaming 360 game on the Xbox 1 help Xbox
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submitted by HailCorporateRobot to PotentialHailCorp [link] [comments]

2015 A year of Destruction, Growth or Moon. Let's see how everyone's predictions from the beginning of the year panned out!

Well, it's been a tumultuous year. But let us reflect and find out who was right, who was wrong, and who is poor. Since I'm banned from the old sub I can't post there so I'm doing it here. The old thread https://np.reddit.com/Bitcoin/comments/2qz6vb/2015_a_year_of_destruction_growth_or_the_moon/ contained some pretty good predictions. I myself made some pretty thorough, and specific predictions to add some spice, I offer a copy here for everyone to critique, so let's see how I went...
Here's my predictions post from the beginning of the year https://np.reddit.com/Bitcoin/comments/2qz6vb/2015_a_year_of_destruction_growth_or_the_moon/cnb1h28:
Well, my 2014 prediction https://np.reddit.com/Bitcoin/comments/1ty17h/2014_predictions/ced5iry was pretty obvious and a bit boring so I'll try to be a little more creative this time around. I'm going to spice it up with several predictions just to make it interesting. Keep in mind this is purely speculative prediction.
Controversy Front:
Nailed it.
Kinda nailed it? Banks certainly are on the doorstep of doing stuff like this, Ukraine etc. and "blockchain" technology certainly is big right now. I may have been a little early though.
No dice, seems that these little piggy banks are not ripe enough for acquisition just yet....
Legal Front:
Sorry guys, dropped the ball on this one. My prediction is bad, and I should feel bad. Though the sliver lining is that countries and states are definitely building legal frameworks to accommodate Bitcoin, and other cryptos so it wasn't a totally bad prediction, just the bitlicense bit.
sigh... On the upside GBTC is going swimmingly and at least the Winklevii have their Gemini exchange up and going. God knows when their etf is ever going to fly though.
Called it.
...The ATO will start pursuing people that conduct business in Bitcoin without declaring tax as tax evaders and will waste money and resources pursuing individuals/businesses that don't disclose Bitcoin commerce or retain the double GST for Bitcoin related sales. Ironically the cause of this this will be the result of their own idiotic rulings in the previous year. The ATO will be left red faced, and some Australian politicians will begin to craft legislation to recategorise Bitcoin as a currency, as it should have been originally.
Ok that didn't quite happen AFAIK there's been no crackdown, but I do remember that senate hearings or meetings were in place to legislate the legality of Bitcoin as a currency. I guess time will tell.
The Usability Front:
Still not there, but the number of other hardware wallets has definitely increased substantially, with even more on the horizon so here's hoping that next year we'll see ubiquitous and universal compatibility among more hardware wallets.
The Core software Front:
If only, sidechains was not the star this year, and we all know why too...
FYI, there was absolutely ZERO noise about the block increase when I made this prediction, so I'm going to say that I nailed the specifics, but I obviously was NOT prepared for monumental clusterfuck shitfest that Blockstream, Core and their little cliquey circle was going to unleash onto the general community. Nor did I anticipate how the miners would reel in horror at what should have been fairly straightforward upgrade that even now, seems quite rational and acceptable. It's obvious now that there was a huge amount of hidden resentment and resistance to any block increase by many devs and other members in the community, so in retrospect the years of stalling makes far more sense now. At the very least I'm just glad their true colors are out in the open for everyone to see, rather than hidden behind excuses, lies, and half truths.
Other likely developments:
Another missed opportunity. At least OB is still going strong and hasn't fizzled like some other projects. Keep up the great work Open Bazaar devs!
Nailed it. :) For people that don't agree, all I have to say is this, "blockchain technology" ;).
I guess I far too optimistic :), looks like these dinosaurs still have some fight in them left. Though Europe and the Greek crisis did almost happen, so I only just narrowly missed calling a huge financial catastrophe this year. Doesn't mean it isn't going to happen, just not this year I guess.
And finally, price:
Goddamnit. Oh well, I guess it's understandable now that the blocksize issue has been completely blown out of proportion and turned the entire ecosystem on it's head.
All in all I think I did pretty damn well considering. I reckon if the move to increase the blocksize had gone according to BIP101, we would have seen a far more positive end of year though. The controversy has almost certainly taken the wind out of the innovation sails so to speak as it's clear in my predictions that I expected things to have moved along far more than it has.
submitted by ferretinjapan to btc [link] [comments]

[Table] IAmA: IAM Peter Vessenes, Executive Director of the Bitcoin Foundation. AMAA!

Verified? (This bot cannot verify AMAs just yet)
Date: 2012-09-28
Link to submission (Has self-text)
Link to my post
Questions Answers
Most proponents of Bitcoin seem to believe that there will be a point where one coin exceeds a value of $100 or even $1000. Sure, that is definitely possible and I can accept that it may happen one day. However, since each coin has this intrinsic potential value.. why would anyone spend them on trivial stuff like food now? How can you spend something that you believe will continue to grow in value effectively to infinity? That seems like a fair complaint to me, in general. In practice, and as opposed to Krugman's thoughts on the matter, we have many thousands of happy Bitcoin transactors, I think people like to spend their bitcoins with others, give them away, and use them for things. I do know some Bitcoin businesses that try never to spend their coins. That said, we have had some periods like last year where EVERYBODY wished they'd spent their coins.. To my mind volatility is a worse 'evil' than being deflationary. As I said above, I think most government economists wish an inflationary currency (and many bitcoiners hate this, and talk a lot about how much they hate it), but I think there's definitely a place in the world for a deflationary value system. An interesting thought experiment for you -- if you forked the Bitcoin blockchain and changed issuance so that it tracked say, USD or USD/EUR inflation rates for issuance, would it have the same uptake or not?
Every once in a while I hear stories about security breaches including 240,000 bitcoins that went missing the other month. How do you ensure security of account holders funds? The practical security aspects of running Bitcoin businesses are a REAL need, and it's something we want to help on with advice, and possibly opt-in certification at some point. I say more about this elsewhere in the AMA.
Furthermore, most sites I've came upon that sell goods seem poorly managed and difficult to use. Is there a Bitcoin equivalent to sites like Ebay and Amazon? Re: bitcoin site usability -- I agree, it's often terrible! I'm not sure why this is, except to say that bitcoins make transacting online so easy that even people who can't afford a designer can do it.
A: How does the intrinsic non-fiat nature of the currency affect its susceptibility to market fluctuation? I.E. Better or worse stability than fiat currency? So far, because market cap is so low, (Roughly $100mm of value), Bitcoin exchange rates are highly susceptible to people pushing it around. This is really tough for everyone. There are a bunch of businesses that might not be viable until you have some exchange rate certainties that extend beyond a short (one day-ish) window.
B: What can be done to improve the resistance to massive fluctuations in value stemming from exchange market manipulation or normal use? There are some macro-economic things that could be done, like exchanges publishing all trades to a central area, and implementing locks if prices rise / fall too suddenly, but those all have their own effects to consider. I think the fundamental thing to do is help Bitcoin acceptance and uptake grow, increasing the size of the pie until there are a much smaller number of parties that could push the price around.
C: Is there anything that can be done to the standard to improve stability or is it all up to the markets to implement safeguards? So, we all do have a part in that stabilization for sure. There's also the angle of creating whole supply chains that are bitcoin denominated -- paying our staff in Bitcoins only is an attempt to work on that angle.
What do you say to people that claim Bitcoin is nothing but a pump-and-dump pyramid scheme designed to benefit it's creators? That they're sitting on a huge pile of bitcoins obtained by them before the currency was made available to the public when mining was far easier then dumping huge batches of Bitcoins destroying the price over and over again to enrich themselves and fuck everybody else? And that they get more chumps into the system to inflate the price again, by going around the internet and promoting Bitcoins as an alternative currency rather than a complete fraud? This borders on the troll-ish, but I will say that the Bitcoin network autosizes coin generation based on how many people wish to do it. That is, people opt in to make the coins and secure the network. Nobody is forced to.
Is the Bitcoin Foundation a non-profit, tax-exempt organization in the United States? Who among the directors and the board has experience running a non-profit? Why is the ED also a member of the board? How does the ED have the time to run the organization given his obligation to CoinLab? Why haven't I seen any of the involved parties at either of the last two Bitcoin conferences? Can we get somebody who isn't a white male involved? We're a 501(c)6, Washington DC Nonprofit.
I have experience launching a non-profit, hence my job.
ED's typically get a salary and work full time at the job; we didn't know if we'd have budget to pay someone who could operate such a thing, so we went with this structure. I anticipate that I will step down from being the ED at the earliest moment we know we have someone better to do it; running CoinLab is plenty of work for me.
Our assistant director Lindsay Holland is not a white male.
In general, Bitcoin is a white male sausage-fest, though. I urge you and all Bitcoiners everywhere to work on changing that.
What is the future of bitcoins? Do you think they will ever make government-issued currency obsolete? I don't know the future of Bitcoin, but I hope that I and the Foundation are a part of it!
I don't believe Bitcoin will ever obsolete a government currency, but I only speak for myself when I say that. Bitcoin is a fascinating and novel technology with a HUGE number of potential benefits to the world, so I'm into it. I don't see a government wishing to cede control of its currency to anything like the technocratic / consensus model that Bitcoins are governed by, though.
That said, I do hope that Bitcoins will be able to help people in areas of the world that need better money features. Mpesa is a great example of something that helps Kenyans (and people from a few other countries) by changing how money is used. Bitcoin has the potential to help people like that, all over the world, whether or not the 'market' is large enough in that country.
I personally think that sort of thing is SUPER exciting.
Could you describe the bitcoin foundation for me? Sure! It's a trade organization, member-driven. Its goal is to promote, protect and help standardize Bitcoin. Our initial goals are to provide funding for the core development team, run a 2013 Silicon Valley Conference, and create some opt-in certification methods and best practices for businesses dealing with Bitcoin.
Join us.. :)
Standardize? I can tell you hate our goals, so I won't spend a long time trying to convince you. But, I will say that businesses often need a long, secure timeframe to make investment decisions, and they need to have some sense that what they work on or invest in will be roughly similar at the end of their investment to the beginning.
Why do you want to "standardize"? For instance, imagine ebay deciding to take bitcoins. The person-hours to get that done inside ebay are staggering to imagine, from wallet scalability issue to accounting treatments, refunds, ... It would be a major endeavor.
What gives you that authority? It would be great for bitcoin if ebay took bitcoins. Seriously great, but they can't right now until they feel there is some generally stable path going forward.
Why is the core development team so deserving of funding when they can't even make a decent client? You might hate everything about that, and that's cool. I urge you to go ahead, fork the code, advocate as much as you like for something else. Bitcoin's free, both the protocol and the software. Nobody is stopping you.
Is there any legal action to be done if someone steals your bitcoins? Yep, if you're in the US, file a police report, and call FBI Cybercrimes division.
As an individual member of the Bitcoin Foundation, what do I get? Any perks or privileges? Email aliases, voting rights, a newsletter, etc? Or are these memberships mostly a way of providing financial support to the foundation? The bylaws are up now, so you can read in great detail what the organization will provide its members: Link to github.com
In short, though, rights to vote people on / off the board of the Foundation, soon access to private forums, probably discounts to the bitcoin 2013 conference, happiness at supporting the dev team.
I would like to provide email aliases, we've got Patrick and Jon working on any possible gotchas there, though.
Many aren't taking bitcoin seriously because of the security issues some have had. What steps are you taking to legitimize this currency? Like Jeff says below, I would distinguish between fundamental protocol security and security practices.
Bitcoins fundamental protocol security seems pretty good at this point; I'm sure we'll all be keeping an eye on that quite intently into the future.
Practical Security has been, largely, terrible in the Bitcoin space for most businesses, Mt. Gox perhaps excepted. The amount of work it takes to secure 80 byte strings that may be valued in the million dollar range is non trivial. Think securing missile codes as to the level of security needed.
Many bitcoin businesses can't afford (or don't wish to) this sort of security. I'm hoping we can provide some tools and pointers for these businesses and their users to help people understand what they're getting into when they transact with a bitcoin business, and what their risks are.
The Bitcoin Foundation Membership (VIP) fees are definitely disproportionate. Why? Are we now heading for a two-tier bitcoin community? We got requests from large supporters to make a more expensive membership tier. I'm slow, but not so slow that I said 'no'.
I'm slow, but not so slow that I said 'no'. - So you said 'YES'? Someone said "Please make higher corporate member fees: Linux Foundation Top Tier member fees are $500k. Your plan is too low."
I said "OK, Thank you for that advice. We should do that."
Is the foundation primarily focused on US or also europe and the rest of the world? Right now Jon Matonis is considered our "Europe Expert" on the board. There's a huge amount of work to do just in keeping track of how Bitcoin is categorized and regulated around the world. I would expect the Foundation to put some time and energy into helping with that process, but it's not our first goal.
What would you or the Fundation do if the government declares Bitcoin ilegal? Advocate that such a thing is silly, unenforceable, and counterproductive.
Thats no answer to the question. Have you got any plans for the "unthinkable"? That really is what I would do. What do you suggest?
What are your thoughts on transparency of the foundation? How much revenue is there and how it is spent, will that info be public? We're aiming to be highly transparent. I proposed today that we publicize our cold wallet public keys so that people can check our balances. This got pushed back a month while we work on some logistics. I will follow up about this, though. I think having auditable books from day one is really cool.
What are your thoughts on fiat currency? I love it and wish more of it. I'm totally grateful that nations have standardized and created currencies for their people, so that I can travel and buy stuff without worrying about the reputability of a local bank when I go to exchange my money.
I read something recently about a Bitcoin based debit card system. How is that coming along? I don't know, but I want one! The Foundation would like one, too. We are trying to run the Foundation with only Bitcoins, so it would be nice to fuel up a debit card for some expenses.
Create an opt-in certification process for Bitcoin businesses. How will you be going about this? What will certification entail? TBD, But I am imagining that businesses could vet their processes and procedures against a set of published standards, pay for an audit, and then be able to help their users understand what level of security they provide, e.g. "Bronze certification -- the site could be trusted with 50 bitcoins of stored value per person."
Does the foundation intend to have control over bitcoin.org and thereby over the main distribution channel for Bitcoin-Qt? We're a member organization. Some of our members do have access to and influence over bitcoin.org and bitcoin-qt. I have no idea if they would like us to help manage bitcoin.org, since we just launched yesterday.
If the decision makers for bitcoin.org and bitcoin-qt want us to help out in those areas, I wouldn't mind. I don't think either of those things is super strategic to helping Bitcoin right now; there's more need for messaging and some financial security for the core team, and the other stuff we said we're going to work on this year. bitcoin.org and -qt publishing don't seem broken to me or risky right now.
Given that Mt Gox has a (rightfully deserved) place on he board, what steps can and will you be taking to ensure that independent exchanges are encouraged and not ignored? Also what steps, if any, can and will you take to ensure the public that the commercial interests of those on the board do not conflict with the decentralised ideals and paradigm of Bitcoin itself? I don't know how we'd encourage or ignore exchanges, since everyone is welcome to join.
I do think this individual / corporate angle is at the heart of the Bitcoin, though; it's got a lot of parties that care about it, passionately. Some are investing millions of dollars. Some are tirelessly advocating for Bitcoin. Many sit around and troll and waste people's time.
I guess that partly we expect our board members will act with integrity, and that if they aren't representing the needs of their member class, they'll get replaced with someone who will.
I also don't know how we would, practically, decentralize Bitcoin, even if we wished such a thing. I don't think anyone on the board thinks Bitcoin is doing badly. We're all really excited about it and want to help. I personally believe if corporations (a small group or just one) ever provably controlled Bitcoin, they would become vastly less appealing and useful. So, we're on watch.
Not as on watch as a paranoid bitcointalk forum troll wants us to be, but we're on watch.
Why do you require a real name and real address, when bitcoins core values are to be anonymous? The Foundation's core values include openness and transparency. I think the Bitcoin anonymous thing is overblown and a bit of a myth, by the way. Every bitcoin transaction links two addresses; often people can be determined from those addresses.
At any rate, we wish to make sure you can't stuff the ballot box during voting, and we wish civil productive discourse among our members, so we need real names and addresses.
If you just want to support us without joining, you can always send money to our vanity donation address: 1BTCorgHwCg6u2YSAWKgS17qUad6kHmtQW.
What is the current, largest obstacle when it comes to wider Bitcoin adoption? I think Bitcoin adoption is growing nicely. There seems to be a sort of stair-step function where people figure out something new and broadly appealing to do with them, and it makes a big jump. I expect we'll see that many times over the next five or ten years.
Doubts about the network's scalability, uncertain status about its legality or something else? Bitcoin's brand seems bad to me; mostly the highly publicized exchange attacks worry people. It's too hard to have a secure cold storage wallet for even a very smart individual. I'd like to see some of those things improved.
Does Bitcoin have any plan to combat criminals using the currency to purchase things on online black markets? I can't speak for Bitcoin, but the Foundation has no criminal combatant plans. We do want our members to use their real names and promise that they only engage in activities legal in their jurisdiction, though.
That's mostly just a way of us saying who we want to hang out with, and expressing some community values we think will help our organization be a success.
Did you expect for the Bitcoin concept to explode as it has? I sort of did, but I definitely didn't put my wallet behind that explosion. Sigh.
Also, where do you see it going in the future? I talk elsewhere in the AMA about what I'm hoping for Bitcoin.
Will the foundation be sponsoring Bitcoin software outside of Bitcoin.org? What do you mean? Like if Jeff Garzik made cool software that would help the Bitcoin world but didn't release it at bitcoin.org would we try and help him?
The answer is yes.
I.e., the Foundation would provide a service with recommendations such as wallet security for an exchange, but I don't think the Foundation should be in the business of "certifying". Yeah, there's an interesting set of questions there about certification. I would LOVE to see a certification that brought with it the ability to be insured against loss and theft. Think how nice it would be for an exchange or wallet business to be able to offer that insurance. That said, I don't know of any bitcoin company that has such insurance yet. I think we have some work to do vetting out the processes and procedures, and then some sales and relationship work with insurance companies first. At any rate, we won't be stumping up security for certified companies through the main Foundation corporate vehicle ever. But I think the membership will want to discuss what a good set of next steps is toward that goal, if we're all sold on trying to make it happen.
What's the advantage to using bitcoins over government issued currency, basically why should I invest my $US in bitcoins? Some people have ideological preferences for Bitcoins money issuance scheme.
Some are nerds, and like it for nerdy reasons.
Some just like being able to pay whom they choose when they choose.
Some deal with payment infrastructures that are scary (Paypal freezes are scary), or slow (wiring money in and out of small country central banks is REALLY slow).
Also, they're neat.
How does it feel to know that a kitten wearing a top hat has more upvotes than you? That kitten is so damn cute. I spent some of my AMA time going "AWWW"
How will you try to keep BIG businesses from buying their way into "THE" Bitcoin Foundation? Bitcoin is inherently free, it's peer to peer, it can be forked, it's not controlled by the Foundation, especially one that's one day old.
So, I look forward to large donations from BIG businesses. We will use that money to further the Foundation's mission. Our members will, no doubt, be highly engaged in discussions about what to do with large donations. I'm looking forward to it.
What is your opinion on Canada's new digital currency, "Mint Chip"? How does this affect Bitcoin? I don't know much about it, but I think it's cool from what I do know, (and is it technically flawed? I don't recall). I'm all for money system experimentation, as you might guess.
You are starting to get increased media/congressional notice. Are you at all worried about being shut down and prosecuted like E-Gold was? Who is we? The Foundation is a member organization, nothing else.
There are some bitcoin exchange operators that actively flout the same AML laws that got the E-Gold founders in trouble.
There are some that try hard to do the right thing, jurisdiction by jurisdiction.
Personally, I don't worry about the ones trying to comply, and I don't transact with the ones flouting the laws.
Why do you have different vote classes, is one class worth more then another? Corporate members vote their seats, Individual members vote theirs.
Anecdotally, there are fewer corporate members, so a corporate membership vote has a greater proportional influence over a board seat than an individual membership.
so a corporate membership vote has a greater proportional influence over a board seat than an individual membership. - So there may be poll when votes of both classes come together? Like asking ALL members to opt out changes to the source code? I would be stunned if we voted on source code, ever. I don't think anyone thinks that is in the remit of the Foundation.
Pragmatically, the dev team is one arm of bitcoin source code governance, and miners are the other, since they can refuse to work with code changes they don't like if they do it in bulk.
The board meets often, and should be listening to its constituents; sign up as a member, and then mail your appropriate rep. As a sample of what we discussed today: "Should we do an AMA? Who will get member signup confirmations out? Can we publicize Patrick's bylaws yet?" were the scintillating topics of conversation.
Will I be getting an e-mail with receipt for my payment confirming my membership subscription? Yes, we are ACTIVELY working on it. Apologies.
What's the dev's payroll? TBD, now that we know what our member signups are.
I don't know if we'll release payroll or budget numbers outside the membership -- something we have to discuss.
What power does this foundation have over Bitcoin? Why did you make Satoshi the founder without his permission? We have no power over Bitcoin whatsoever.
I think we felt a foundation that didn't somehow acknowledge Satoshi would be a bit churlish, like ignoring Linus completely while making the Linux Foundation. Satoshi is, as always, free to participate as he/she chooses.
Has there been a growth in algorithmic trading of Bitcoins in the past year? If so, is that growth in algos added stability to the Bitcoin Market? I have no idea. But I'm curious about this too!
Why hasn't (almost) anybody heard of you before today? I keep a low profile. Until yesterday. Also, I gave up on the forums a long time ago; not productive enough for me.
That was very informative, thanks. Not that hard to grasp when somebody spells it out. The reason you do it is to provide a second element of value to a chain of transactions; the first element of value is consensus -- what everyone else says happens.
Is there a reason for doing this? Or just a way to pace the grinding nature of mining bitcoins? The second, arguably more powerful one is provable computation time spent on creating the consensus. So you can look at a set of bitcoin transactions and say "Ah ha, that had roughly [say] $1mm worth of computation time put in to securing and validating it! I believe it's safe to consider my $55 transaction secure."
Just out of curiosity, do you have any idea how many people have applied so far? Yep. We'll release end of first-month member numbers in 29 days. :)
How does one go about buying bitcoins? Probably the fastest way is to ask a friend who has some.
Next would be to use a service like Link to bitinstant.com.
How long are terms for each board member? Two years.
Will the Bitcoin Foundation promote a Vulnerability Reward Program ? I would like to see that, but I think the first things to do in terms of importance are on our published list.
Will the funds for a permanent memberships be put into an endowment, or will they be spent immediately? We haven't discussed it. Budget discussions are next couple of weeks, now that we have our heads around some numbers.
We also have to discuss if the foundation wishes to go long bitcoin, or instead spend to its annual budget. All TBD; if you have opinions send them on to your member reps.
I'm curious about this too. I'm not sure I understand how they work entirely. Maybe somebody could Explain like i'm five... Totally. They are confusing; it's a truly novel solution. Essentially it mixes something non-intuitive and magical-seeming (public key cryptography) with something very hard to imagine a solution for (distributed timestamping among non-trusted parties).
We will be seeing the concept extended out into a number of technology arenas over the next 25 years I imagine. It's an incredibly powerful solution-space.
I spent maybe an hour on the wiki reading the FAQ and everything, and it still makes references to "blocks" and "mining blocks" and those that mine have the option of transaction fees.. and I'm still not really sure what is happening. Yep, like I said. I've been thinking hard about them for two years, I have a cryptography background, and I still have 'a-ha!' moments weekly, at the very least.
There are a couple pretty good bitcoin explanation videos out there, but I'm not up to date on what the best one is. Maybe someone helpful can post a link.
After establishing support for food and shelter for Gavin, will there be opportunities for other bitcoin developers to apply for grants - maybe for specific implementations or features desperately needed. I'd love it. I think Gavin will be working out the specifics of what we want to do. I'd LOVE to see money put into a huge test suite, personally.
Thank you for furthering the effort of Cryptocurrency, I have written several policy papers in this arena, and look forward to the day where the deep web stigma is removed from the currency. Thanks FapNowPayLater! We genuinely appreciate the support.
Last updated: 2012-10-02 22:30 UTC | Next update: 2012-10-03 04:30 UTC
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submitted by tabledresser to tabled [link] [comments]

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